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Can-Fite Biopharma to raise $5M

Israeli biotechnology company Can-Fite BioPharma Ltd. is looking to raise $5 million via the sale of 3,333,336 American depositary shares priced at $1.50 each.

The offering will close by March 13 with H.C. Wainwright & Co. acting as the exclusive placement agent in the offering.

Can-Fite is advancing a pipeline of proprietary small molecule drugs that address cancer and inflammatory diseases.